- On 20 May 2013
in
Is real estate bubble 2 showing some strain?,
David Losh said:
Lifestyle changes. I just rented my largest home to a family with four wage earners.
You are an interesting person.
I think, if that is a strategy, that Real Estate is done.
I get that mom, dad, and the kids want a house to live in, but they have other expenses. If rents continue to rise you'll find fewer consumers for your home.
Investors can find better returns in apartments, or scaled development than buying houses.
I think most investors, if given a choice, would rather be in something managed well, than random rent increases that may not materialize.
When we start seeing price appreciation slowing more investors will sell. I see it later this year, and the next.
- On 20 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
"everybodies getting paid" really? why did they sue you? why did the IRS file a tax lien against you?
Geez, Bob, how many times am I going to answer your same questions.
The IRS audited my sales of property, one of which was my personal residence. The IRS claims it was a rental. I got slapped with a huge fine, with penalties, and interest. It's on a plan Bob, secured by a tax lien.
Now let me ask you this Bob, because you seem to know so much about me, what is my over all tax liability as a per cent of my income?
Those that sued didn't like my terms of no interest. They got less by settling. Do you see a judgment in there Bob?
No you don't.
You see Bob, you are an ignorant Bubba who has played it safe, and just hasn't learned anything here.
I came to Patrick.net as a true believer in Real Estate also Bob, but read, and learned, and have changed my outlook.
You, on the other hand, are here filling in empty moments in your life?
What's your point here Bob?
You've asked me the same questions, over, and over, and over again, you get the same answers, then you seem to forget, then come back again.
I'm happy to answer your questions because I'm getting to a point of no debt Bob. I'm even thinking of paying off my house, the one you have a hard time figuring out.
I look at this economy as a great time, after the crash, to settle debt. I'm more than happy to do that because I have cash flow. I don't have a need for credit, but even if I did banks are always going to be looking for more business.
I also don't need to carry any personal debt. Why should I Bob?
You've asked me a bunch of questions, but you never answer mine. Why is that Bob?
- On 19 May 2013
in
Is real estate bubble 2 showing some strain?,
David Losh said:
Owner-occupiers are willing to pay much more than investors and when they dominate the market, we'll be in phase two of this bull run and it hasn't even started yet.
You are an interesting guy, with a fresh approach.
We are marketing a property right now, and I felt we had missed the market by not listing sooner.
Inventory is creeping up in our area, as well as interest rates.
However closed sales have closed the appraisal gap some buyers faced in March, or April closings. This has allowed us to look at a higher asking price.
I hope you are right, but think that the future gains will be short lived.
- On 19 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
Bob, your fascination with me is flattering, I'm sure, but you have nothing to say.
Everybody is getting paid Bob, they just may not like the terms.
I have no interest in you. As near as I can figure you are a regular bubba.
So really Bob, what is the problem?
- On 18 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
Keep it up mr. "I don't pay the banks, they can sue me, and the IRS toO!"
Look it Bob, once again, everybody is getting paid, so what is your problem.
I've warned you before about making false statements, but you can't help yourself.
- On 17 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
I've noticed this pattern before, of liars braggin online only to get pissed when the truth is revealed
Look it Bob, you are a funny guy, I appreciate that, and the banter.
You don't understand my business, or business plan, and aren't interested in learning anything here, from me, or anyone else, who doesn't support your business plan.
I don't support your business plan, but I do embrace mine.
It will take a little more than a couple of years of appreciation to show that my business plan is much better than yours, but let's just take the current facts.
We both sold properties up until 2007. You chose to invest in housing units, I chose to invest in our cleaning business. You think cleaning toilets is beneath you, fine, what do I care?
My business generates more net profit per month without any loans involved.
We employ people. Those people are paid well. I prefer to pay well to get good people.
I also have the opportunity to invest in other businesses, as I choose. Those investments may be in the form of loans, but most of the time are only an investment for a fair return.
You just seem to be here to brag about yourself and make weird off the wall projections onto me based on your own little world there in Phoenix Arizona.
Best of Luck, but it isn't working with me.
- On 17 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
Buying real estate to lock in your cost of housing as a the lessor of your own investment property is even better as you already have a known tenent.
That's false thinking. You pay that personal mortgage debt with your owned earned dollars. The only reason my residence get's paid is because we do run a business out of the home. If the business does out grow the then we'll rent the house to the business, and move to a more reasonably priced location.
Personal money is much different than business investment.
- On 17 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
YOU are stiffing banks,
Banks made a mistake when they went to 28% interest. All banks got the same deal, most took it, because they would rather be paid than not paid. Two that didn't take my offer filed in court, and got less.
Every body is getting paid here, boss, so it was your creepy stalking that brought up this talking point, but for whatever reason I can't figure out.
Do you think that me telling people, like you, that investing in todays Real Estate market is a huge mistake is going to cost you some sales?
As far as income, mine is more, with no debt, all net.
I'm blogging for business here Bob. What exactly are you doing?
- On 17 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
So unless your assets are owned free, and clear, unless you are debt free,
you have no wealth to talk about. You're leveraged, and talking like that is a
smart move, it's not.
nominated.
The most admire company/investior in America/world, Berkshire Buffet has 63B in debt in the form of notes payable.
Wealth is powered by debt. Only an idiot like David Losh thinks cash leads to wealth.
Warren himself doesn't carry debt. You're confusing Berkshire with Warren.
I have a different cash flow system than Real Estate that doesn't require debt. I'm obviously not debt adverse, as long it's not my debt.
There is nothing to say that a Trust, Corporation, or LLC won't carry some debt to improve cash flow, because that is the way I operated for years.
I'm simply retiring my personal debt, but won't carry debt in Real Estate going forward unless it's for a business that generates the cash flow for it, like a coffee shop, or restaurant.
Holding rental property? I just don't see the upside any more.
- On 17 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
So you are a guy just hanging out on a blog, for what reason? are you expecting some one to buy something from you? or are you just here to dispense more advice.
I don't see any irony at all in this. You are stuck with houses in Phoenix Arizona. Your money is tied up until you sell. My homes are sold and my money is working for me.
I have warned you before about making false statements about me, but you just can't help yourself.
I am paying my bills without interest, or fees. My first mortgage is the only thing I need to pay the interest or fees on. It's the way the law works, it's the same mechanism banks use.
Now if you own all of those homes free, and clear in Phoenix Arizona, I'd suggest you sell them this year, and hold that cash in something that will be more productive.
Real Estate is done, stick a fork in it.
- On 17 May 2013
in
SF Bay Area median housing sale price $510,000,
David Losh said:
That's why the Fed will not allow it to happen. Looking at the recent reported CPI, it seems like another QE is on the wing now. QEternity baby.
I think interest rates will creep up, and the Fed will be happy with that.
The problem we have, and had, and now Japan has, is that cheap, easy, low risk money goes into easy returns, speculation, and market manipulation rather than production.
Until capital purchases are put into use, or in the case of housing until those houses are sold, or rented, which they are, then you have no velocity of the money. Without velocity there aren't enough jobs.
I think the Fed will push up rates, ever so slightly, so that manufacturing will stop fooling around and start production lines moving.
- On 17 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
Notice that IWOG and I don't talk about walking away? that we don't have banks pursuing us for debts? The reason is, we are successful; We understood the market, and bought homes that made sense to buy. Clearly, you didn't, or you wouldn't be having all of these financial troubles.
You really don't get it.
You are either getting to cash right now or you are going to be stuck playing the banks game.
Banks have showed a hand that isn't fair to the consumer. They bought the Real Estate market place, maybe globally, as near as I can see, with very little effort, and a no risk, low interest, government backed recovery plan.
You'd have to be blind not to see that.
So unless your assets are owned free, and clear, unless you are debt free, you have no wealth to talk about. You're leveraged, and talking like that is a smart move, it's not.
I'll get to cash sooner than you will.
And, please read those "contracts" that people sign, then read the law. What I am doing is as legal as what banks do every day. You should take some time to learn your business professor, or stop talking about it.
- On 16 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
GET A ROOM YOU TWO !
Thank you, but I do have a point.
We just launched our new website at www.SeattleHouseCleaning.com yesterday.
Every blogger wants to monetize the time they spend blogging. My way is to promote our services.
We actually have two companies, Mine is A Spring Cleaning at www.ASpringCleaning.com
My part of the company prepares properties for sale. We now only work with the Principles in the transaction, because Real Estate agents have gotten to be so flakey. They are low pay, slow pay, or no pay, but want the moon. I've been preparing properties for sale since 1968, and started my first company with a partner in 1972.
So, I'm shamelessly blogging for business, but at least I admit it.
- On 16 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
why would anyone take ANY real estate advice from you?????
You really have your head in the sand there, professor, because this is how the game is played today.
I might well walk away from my home, it's in my contract professor, it's a part of the deal, it's what the bank signed up for.
I offered the original investor of my Note, which was a private Note $400K on a $500K Note, right after the crash. Rather than negotiate with me he sold to Duestche Bank obviously for more.
I might, I just might, amortize that loan over the next seven years, but I really have to think about that, or walking away. Hey you're the math Professor, which will net me the most cash?
Ah, you have no idea, because you don't have a clue about today's economy.
Cash is King kid.
The good news for you is that I am in negotiations with the IRS to get that tax lien removed. We'll enter two years of negotiations, but I think we'll have that debt retired sooner than that.
As for the banks? FUCK THEM. Anyone doing business with banks is a lost cause. We won't pay interest, and the banksters aren't a liking that, but fuck 'em, they are the thieves who have made way too much money off of me. We pay the debt, but no interest, which is also how the game is played. They get the money back, but no fees, or interest. That should all be retired also next year.
Happy?
- On 16 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
Anybody right since 1984 wouldn't be:
1. getting sued by banks for not paying mortgages.
2. getting sued by the IRS for back taxes.
3. sending their middle aged wife out to clean toilets, and braggin about it.Professor, I warned you before about making false statements.
It makes no difference to me, but you continue to bring my wife into it, which is some fabrication in your mind.
You have absolutely nothing going on, but a few rental properties that you want to discuss all day, every day on Patrick.net.
You are a nobody until you capture your profits.
I've captured a lot of profits over the years, and that's what I'll continue to do.
Gotta go, Friday is pay day, and a lot of people depend on this income to pay land lords.
Have another cocktail professor, and keep talking big.
- On 16 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
I'm not talking about Joe Programmer purchasing a home as an investment. I'm talking about JP purchasing a home as a place to live until he dies.
Every property purchase is an investment. Each investment is either an asset or liability. Some people can over invest in a Real Estate liability, and end up with no return.
You need to be smart. You need to invest well, and I don't see home ownership as a great investment right now. You would need to be really smart to get a deal today.
It's not impossible, but the market place in America is huge. Job opportunities are everywhere. Cheap housing for retirees is plentiful in different parts of the country.
You have to do what is right for you, and you future financial picture.
As an example, here in Seattle we have software, internet, tech consultants from all over the world. They make a lot of money, and the foreign investors bring a lot of cash into the country by buying Real Estate.
It's totally possible to make money in our market, but it is like pulling teeth to get a deal, and make the numbers work.
Joe Plumber has a much better chance of renting, and saving, with the possibility of moving to somewhere with more job opportunity.
- On 16 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
You said the same thing two years ago. SInce then, the LEAST any of my homes has gone up is 50%, plus the rent.
I invested $30K in a cleaning company that pays me cash daily. It has unlimited income potential, and can be sold conservatively for $60K which is double my investment, which I own free, and clear.
In Real Estate, from my sales, as you have so eloquently pointed out, I still have a tax liability because of my claim of selling a personal invest the IRS is claiming was an investment property.
I did make mortgage payments on a mess of properties for years, sold for a profit, banked the money, and am in the process of retiring a million dollars in leveraged funds.
Of course you don't like that I'm being a butt head about it, and not paying banksters interest, but hey, every bodies getting paid.
So while you are wandering around in the desert with a bottle of wine, and a dog, I'm planning my next trip out of the country.
So basically, if you were completely wrong two years ago, then you post these opinions based on NOTHING, not a single fact or market analysis, why the hell should anyone give a damn what you have to say??????
Because I've made a lot of people, ordinary people, like you professor, millions of dollars. You don't want to listen to me, then ignore me. Me, I'm right, and have been consistently right since 1984.
Service industry baby, that is where the money is at.
- On 15 May 2013
in
The housing bears are rightfully frustrated,
David Losh said:
In my opinion, the safe play would be to buy.
Real Estate is a business like any other business. It depends what you buy, when, where, and in what condition.
This thread is talking about Southern California which has a great climate, with marketable industries. Other parts of the country aren't that lucky.
A lot of people are making huge mistakes today by buying Real Estate. The good analysis is in the over all economy. Many investors, and foreign investors, are looking at Real Estate as a safe haven to hold cash because they have a lot of cash.
The stock market, commodities, financial trades, and even debt that was written off in the past five years are all paying huge returns.
These investors can afford to take losses, if they need to. You, or me, may not be as comfortable taking future losses on the homes we buy.
Cash is king, and when you retire your cash may well go much further somewhere other than where you are. If you are talking about investing in a home, there are higher, and better returns elsewhere. Two years doesn't comprise an investment strategy.
- On 3 May 2013
in
Why Occupy Wall Street Failed,
David Losh said:
The Tea Party is not, and has never been, fiscally responsible by any sane definition.
It's like the OWS movement, the movement was transitory, but the message got heard.
I agree about the military, the military agrees about the military budget.
- On 3 May 2013
in
Former Landlord asking me politely for more money for cleaning/fixing,
David Losh said:
Our company only deals with renters, or home owners, but never the property managers, except I will testify in court in favor of our client.
Way too many Real Estate agents went into property management when Real Estate sales went south.
This guy gave his clients bad advice.
You were there for over four years, you fulfilled your lease, and they are responsible for normal wear, and tear.
That's it, that's the law.
- On 3 May 2013
in
Why Occupy Wall Street Failed,
David Losh said:
What matters is that they are highly vocal, highly organized, highly unified morons, and that is what makes them dangerous.
I go along with that. They are also presenting a message of fiscal responsibility that seems to be taking hold.
- On 3 May 2013
in
Why Occupy Wall Street Failed,
David Losh said:
I wouldn't say that I'm ignorant of the huge societal progress of the OWS movement, because there weren't any.
You should read more about political movements, and the accomplishments of small things, like the Black Panther Party which you dismissed.
Like I said Occupy Wall Street was an extension of a more extreme set of protests in Madrid Spain. The hangers on are irrelevant.
It's like the peace, and love idiots of the 1960s, they did nothing, but they did present a message of revolution.
- On 3 May 2013
in
bmwman91's Buying Adventure Log,
David Losh said:
david losh is a realtor. Why not just send him a check directly, since he will definitely refer to a friend that will pay him...
and you know that how?
if you know me then you know I don't take referral fees. I promote my businesses.
A Spring Cleaning has prepared thousands of properties for sale, and we have a regularly schedule cleaning company Seattle House Cleaning. We do refer clients to Real Estate agents who may be a good fit, for free, and good will. There are still some Real Estate agents out there worth a fee. Some are brilliant.
Last I work on my own portfolio.
also, he is dense as a brick, unless you haven't actually read anything he's said...
I do know the market though, as dense as I am, there are still good purchases, and bad in Seattle, but it makes no difference if you actually read any of my comments.
Here in Seattle selling is pretty easy, if you do what I say. Cleaning the place out, cleaning it up, really well, and pricing it right.
We're a tech city, so aside from the NWMLS you also have to pay attention to what the Real Estate hype sites have to say about a property. You need to be in a Zillow, Trulia, redfin range, as well as what the trend lines are for the neighborhood.
I'm considered a discount broker of 4% to sell, but 6% to buy. Buying is hard, takes a lot of time, and buyers I refer out, still no fees. The problem with buyers today is that there are so many, and many are desperate to get into a house.
- On 2 May 2013
in
Why Occupy Wall Street Failed,
David Losh said:
You're killing me.
You're ignorant.
The Tea Party is organized and has an agenda,
Really? Disrupting Congress is an agenda?
"Hippie, the rare capitalist variant."
and finally the Hippie reference.
Occupy Wall Street had one message of the 99%. That's it.
Wealth and power was Europe. Old money holding public court, holding all the cards, all the time, for centuries, thousands of years.
Now they have tenuous holdings, more body guards, fewer people paying the mortgages, bad stocks, very bad stocks, and a false set of economies.
Here we had one message of the 99% that are The People. It helped get an African American elected President of the United States of America. We have pot shops on a lot of corners, we have gay marriage, gay rights, a powerful African American Community. It's all because we are the 99%.
End of the war in Iraq, Afghanistan?
and the tea party brought us grid lock in Congress. Give me a frigging break.
- On 1 May 2013
in
Why Occupy Wall Street Failed,
David Losh said:
Occupy Wall Street was an extension of protests in Spain.
The problem here, in the United States, is that we weren't as cluster fucked as Europe, now China, Mexico, and South America.
We have bankruptcy, and foreclosure rights the other countries don't have. We don't have the same level of desperation.
You're right to point out the drum circle aspects of that movement here, it was more militant in Europe.
Let me also point out that the Civil Rights movement of the 1960s went nowhere until the Black Panther Party had an armed resistance, and the Chicago Seven gave a voice to what the black community wanted, they wanted power, and they got it.
Revolution takes armed resistance. Our country was founded on that set of principles.